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Standard Bank Group

DB:SKC2
Snowflake Description

Established dividend payer and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SKC2
DB
ZAR322B
Market Cap
  1. Home
  2. DE
  3. Banks
Company description

Standard Bank Group Limited, together with its subsidiaries, offers financial products and services. The last earnings update was 69 days ago. More info.


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SKC2 Share Price and Events
7 Day Returns
0.5%
DB:SKC2
-2.9%
DE Banks
-0.4%
DE Market
1 Year Returns
5%
DB:SKC2
-23.2%
DE Banks
-6.2%
DE Market
SKC2 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Standard Bank Group (SKC2) 0.5% 3.1% 12.6% 5% 67.6% 24%
DE Banks -2.9% -6.4% -9.4% -23.2% 7% -40.4%
DE Market -0.4% 0.7% 1.8% -6.2% 13.9% 7.5%
1 Year Return vs Industry and Market
  • SKC2 outperformed the Banks industry which returned -23.2% over the past year.
  • SKC2 outperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
SKC2
Industry
5yr Volatility vs Market

SKC2 Value

 Is Standard Bank Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Standard Bank Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Standard Bank Group.

DB:SKC2 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 8 analysts.
= Stable Book Value * Return on Equity
= ZAR119.72 * 17.8%
ZAR21.36
Book Value of Equity per Share Weighted future Book Value estimates from 7 analysts. ZAR119.72
Discount Rate (Cost of Equity) See below 5%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:SKC2
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.59 (1 + (1- 28%) (25.25%))
0.797
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.8 * 5.96%)
5%

Discounted Cash Flow Calculation for DB:SKC2 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Standard Bank Group is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:SKC2 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (17.8% – 5%) * ZAR119.72)
ZAR15.38
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= ZAR15.38 / (5% - 0.23%)
ZAR322.55
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= ZAR119.72 + ZAR322.55
ZAR442.26
DB:SKC2 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:SKC2 represents 0.06011x of JSE:SBK
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.06011x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (ZAR) x Listing Adjustment Factor
= ZAR 442.26 x 0.06011
€26.59
Value per share (EUR) From above. €26.59
Current discount Discount to share price of €12.09
= -1 x (€12.09 - €26.59) / €26.59
54.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Standard Bank Group is available for.
Intrinsic value
>50%
Share price is €12.09 vs Future cash flow value of €26.59
Current Discount Checks
For Standard Bank Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Standard Bank Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Standard Bank Group's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Standard Bank Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Standard Bank Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:SKC2 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in ZAR ZAR17.23
JSE:SBK Share Price ** JSE (2019-06-26) in ZAR ZAR201.05
Germany Banks Industry PE Ratio Median Figure of 6 Publicly-Listed Banks Companies 15.92x
Germany Market PE Ratio Median Figure of 425 Publicly-Listed Companies 19.49x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Standard Bank Group.

DB:SKC2 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= JSE:SBK Share Price ÷ EPS (both in ZAR)

= 201.05 ÷ 17.23

11.67x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Standard Bank Group is good value based on earnings compared to the DE Banks industry average.
  • Standard Bank Group is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Standard Bank Group's expected growth come at a high price?
Raw Data
DB:SKC2 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.67x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
9.7%per year
Europe Banks Industry PEG Ratio Median Figure of 113 Publicly-Listed Banks Companies 0.87x
Germany Market PEG Ratio Median Figure of 271 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

DB:SKC2 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.67x ÷ 9.7%

1.2x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Standard Bank Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Standard Bank Group's assets?
Raw Data
DB:SKC2 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in ZAR ZAR106.03
JSE:SBK Share Price * JSE (2019-06-26) in ZAR ZAR201.05
Germany Banks Industry PB Ratio Median Figure of 6 Publicly-Listed Banks Companies 0.92x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.8x
DB:SKC2 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= JSE:SBK Share Price ÷ Book Value per Share (both in ZAR)

= 201.05 ÷ 106.03

1.9x

* Primary Listing of Standard Bank Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Standard Bank Group is overvalued based on assets compared to the DE Banks industry average.
X
Value checks
We assess Standard Bank Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Standard Bank Group has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

SKC2 Future Performance

 How is Standard Bank Group expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
9.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Standard Bank Group expected to grow at an attractive rate?
  • Standard Bank Group's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Standard Bank Group's earnings growth is positive but not above the Germany market average.
  • Standard Bank Group's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:SKC2 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:SKC2 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 9.7%
DB:SKC2 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 3.9%
Germany Banks Industry Earnings Growth Rate Market Cap Weighted Average 11.9%
Germany Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:SKC2 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in ZAR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:SKC2 Future Estimates Data
Date (Data in ZAR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31
2021-12-31 131,539 36,628 9
2020-12-31 121,041 31,713 9
2019-12-31 111,892 28,878 9
DB:SKC2 Past Financials Data
Date (Data in ZAR Millions) Revenue Cash Flow Net Income *
2018-12-31 120,128 -37,798 27,453
2018-09-30 120,238 27,027
2018-06-30 120,811 -44,787 26,601
2018-03-31 119,572 -41,342 26,418
2017-12-31 117,869 -41,013 26,235
2017-09-30 114,945 24,985
2017-06-30 112,021 -44,261 23,734
2017-03-31 111,862 -47,542 22,970
2016-12-31 111,702 -50,823 22,206
2016-06-30 112,480 -57,825 21,598
2016-03-31 109,185 -55,324 21,306

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Standard Bank Group's earnings are expected to grow by 9.7% yearly, however this is not considered high growth (20% yearly).
  • Standard Bank Group's revenue is expected to grow by 3.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:SKC2 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from Standard Bank Group Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:SKC2 Future Estimates Data
Date (Data in ZAR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 22.81 23.36 22.43 3.00
2020-12-31 19.81 20.46 18.24 4.00
2019-12-31 18.03 18.63 16.74 4.00
DB:SKC2 Past Financials Data
Date (Data in ZAR Millions) EPS *
2018-12-31 17.23
2018-09-30 16.94
2018-06-30 16.65
2018-03-31 16.51
2017-12-31 16.38
2017-09-30 15.60
2017-06-30 14.83
2017-03-31 14.36
2016-12-31 13.90
2016-06-30 13.51
2016-03-31 13.33

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Standard Bank Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Standard Bank Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Standard Bank Group has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

SKC2 Past Performance

  How has Standard Bank Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Standard Bank Group's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Standard Bank Group's year on year earnings growth rate has been positive over the past 5 years.
  • Standard Bank Group's 1-year earnings growth is less than its 5-year average (4.6% vs 8%)
  • Standard Bank Group's earnings growth has not exceeded the DE Banks industry average in the past year (4.6% vs 4.7%).
Earnings and Revenue History
Standard Bank Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Standard Bank Group Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:SKC2 Past Revenue, Cash Flow and Net Income Data
Date (Data in ZAR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 120,128.00 27,453.00 8,211.00
2018-09-30 120,238.00 27,027.00 8,044.50
2018-06-30 120,811.00 26,601.00 5,911.00
2018-03-31 119,571.50 26,418.00 5,911.00
2017-12-31 117,869.00 26,235.00 7,878.00
2017-09-30 114,945.00 24,984.50 6,707.50
2017-06-30 112,021.00 23,734.00 5,537.00
2017-03-31 111,861.50 22,970.00 5,537.00
2016-12-31 111,702.00 22,206.00 5,537.00
2016-06-30 112,480.00 21,598.00 4,873.00
2016-03-31 109,185.00 21,305.50 4,873.00
2015-12-31 105,890.00 21,013.00 4,873.00
2015-06-30 101,357.00 22,909.00 -8,490.00
2015-03-31 99,423.50 22,431.00 -2,458.50
2014-12-31 97,490.00 21,953.00 3,573.00
2014-06-30 89,347.00 18,223.00 27,085.00
2014-03-31 86,468.00 17,725.50 26,671.00
2013-12-31 83,589.00 17,228.00 26,257.00
2013-06-30 77,960.00 16,737.00 23,848.00
2013-03-31 76,612.00 15,983.00 23,613.00
2012-12-31 75,264.00 15,229.00 23,378.00
2012-06-30 70,917.00 13,028.00 32,782.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Standard Bank Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Standard Bank Group used its assets more efficiently than the DE Banks industry average last year based on Return on Assets.
  • Unable to establish if Standard Bank Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Standard Bank Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Standard Bank Group has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

SKC2 Health

 How is Standard Bank Group's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Standard Bank Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Standard Bank Group Company Filings, last reported 5 months ago.

DB:SKC2 Past Debt and Equity Data
Date (Data in ZAR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 199,063.00 81,416.00 256,320.00
2018-09-30 199,063.00 81,416.00 256,320.00
2018-06-30 189,078.00 96,404.00 308,539.00
2018-03-31 189,078.00 96,404.00 308,539.00
2017-12-31 190,017.00 101,185.00 257,558.00
2017-09-30 190,017.00 101,185.00 257,558.00
2017-06-30 183,817.00 84,815.00 251,204.00
2017-03-31 183,817.00 84,815.00 251,204.00
2016-12-31 179,359.00 98,764.00 250,647.00
2016-06-30 176,257.00 119,389.00 276,223.00
2016-03-31 176,257.00 119,389.00 276,223.00
2015-12-31 178,908.00 164,271.00 316,603.00
2015-06-30 166,729.00 92,192.00 205,647.00
2015-03-31 166,729.00 92,192.00 205,647.00
2014-12-31 161,634.00 104,966.00 230,342.00
2014-06-30 157,110.00 218,905.00 129,322.00
2014-03-31 157,110.00 218,905.00 129,322.00
2013-12-31 152,648.00 98,891.00 238,960.00
2013-06-30 144,123.00 317,057.00 231,527.00
2013-03-31 144,123.00 317,057.00 231,527.00
2012-12-31 130,889.00 161,144.00 367,563.00
2012-06-30 119,916.00 269,903.00 204,181.00
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Standard Bank Group has an acceptable proportion of non-loan assets held.
  • Standard Bank Group's liabilities are made up of primarily low risk sources of funding.
  • Loans at Standard Bank Group are broadly funded by customer deposits.
  • Standard Bank Group's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • Standard Bank Group has a low allowance for bad loans.
  • Standard Bank Group has a high level of bad loans (greater than 2%).
X
Financial health checks
We assess Standard Bank Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Standard Bank Group has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

SKC2 Dividends

 What is Standard Bank Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.82%
Current annual income from Standard Bank Group dividends. Estimated to be 5.76% next year.
If you bought €2,000 of Standard Bank Group shares you are expected to receive €96 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Standard Bank Group's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • Standard Bank Group's dividend is above the markets top 25% of dividend payers in Germany (3.88%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:SKC2 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
Germany Banks Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 3.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 328 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:SKC2 Future Dividends Estimate Data
Date (Data in ZAR) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 12.83 12.00
2020-12-31 11.52 13.00
2019-12-31 10.40 12.00
DB:SKC2 Past Annualized Dividends Data
Date (Data in ZAR) Dividend per share (annual) Avg. Yield (%)
2019-04-18 9.700 4.890
2019-03-01 9.700 5.118
2018-04-20 9.100 4.906
2018-03-08 9.100 4.147
2017-04-21 7.800 4.667
2017-03-02 7.800 5.207
2016-03-03 6.740 4.934
2015-03-05 5.980 4.298
2014-08-14 5.590 4.000
2014-03-06 5.330 3.777
2013-08-15 4.760 3.921
2013-03-07 4.550 4.069
2012-03-08 4.250 3.788
2012-03-07 4.250 3.919
2011-03-31 3.860 3.886
2011-03-03 3.860 3.910
2010-03-05 3.860 3.600
2009-08-14 3.340 3.328
2009-07-30 2.820 3.002
2009-03-02 3.860 4.659
2009-01-15 3.860 5.417
2008-08-20 3.980 4.875

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Standard Bank Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Standard Bank Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Standard Bank Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Standard Bank Group has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

SKC2 Management

 What is the CEO of Standard Bank Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Sim Tshabalala
COMPENSATION ZAR59,065,000
AGE 51
TENURE AS CEO 6.3 years
CEO Bio

Mr. Simpiwe Kenneth Tshabalala, also known as Sim, BA, LLB , LLM, HDip Tax, AMP, has been Group Chief Executive Officer of Standard Bank Group Limited since March 7, 2013. Mr. Tshabalala serves as an Executive Director at of Standard Bank of South Africa Limited and served as its Chief Executive Officer since 2008. He is the Chairman of Stanbic IBTC Bank Plc since 2018 and its Non-Executive Director since August 2013. He served as Group Deputy Chief Executive of Standard Bank Group Limited from 2009 to March 7, 2013. He served as Chief Executive of Personal & Business Banking of Standard Bank of South Africa Limited (SBSA), the main operating subsidiary of Standard Bank Group Ltd., since 2006. He served as Managing Director of African Operations of Standard Bank Group Ltd., from 2001 to 2006 and as its Deputy Chief Executive of Personal & Business Banking. He has been a Non-Executive Director at Liberty Holdings Ltd., since April 02, 2013 and Stanbic IBTC Holdings PLC since August 20, 2013. He has been an Executive Director of Standard Bank Group Limited since March 7, 2013. He served as Independent Non-Executive Director at The Standard Bank of South Africa Limited since June 1, 2008. Mr. Tshabalala has been a Director at Stanbic Africa Holdings Ltd. since February 11, 2019. Mr. Tshabalala holds a BA and LLB from Rhodes, LLM from University of Notre Dame, USA, AMP from Harvard and H. Dip. in Tax from WITS.

CEO Compensation
  • Sim's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Sim's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Standard Bank Group management team in years:

2.1
Average Tenure
49.5
Average Age
  • The tenure for the Standard Bank Group management team is about average.
Management Team

Sim Tshabalala

TITLE
COMPENSATION
ZAR59M
AGE
51
TENURE
6.3 yrs

Arno Daehnke

TITLE
Group Financial Director & Executive Director
COMPENSATION
ZAR36M
AGE
50
TENURE
3.1 yrs

David Munro

TITLE
Chief Executive Officer of Liberty
AGE
47
TENURE
2.1 yrs

Kenny Fihla

TITLE
Chief Executive of Corporate and Investment Banking (CIB)
COMPENSATION
ZAR38M
AGE
50
TENURE
2.1 yrs

Margaret Nienaber

TITLE
Chief Executive of Wealth
COMPENSATION
ZAR28M
AGE
44
TENURE
2.6 yrs

Zweli Manyathi

TITLE
Chief Executive of Personal & Business Banking Group
COMPENSATION
ZAR40M
AGE
56
TENURE
1.2 yrs

Alpheus Mangale

TITLE
Group Chief Information Officer
AGE
42
TENURE
1.9 yrs

Sarah Rivett-Carnac

TITLE
Head of Investor Relations

Isabel Lawrence

TITLE
Group Chief Compliance & Data Officer
AGE
49
TENURE
7.4 yrs

Rene Du Preez

TITLE
Group General Counsel
TENURE
1 yrs
Board of Directors Tenure

Average tenure and age of the Standard Bank Group board of directors in years:

3.3
Average Tenure
61
Average Age
  • The tenure for the Standard Bank Group board of directors is about average.
Board of Directors

Thulani Gcabashe

TITLE
Chairman of the Board
COMPENSATION
ZAR7M
AGE
60
TENURE
4.1 yrs

Sim Tshabalala

TITLE
COMPENSATION
ZAR59M
AGE
51
TENURE
6.3 yrs

Jacko Maree

TITLE
Deputy Chairman of the Board
COMPENSATION
ZAR5M
AGE
63
TENURE
2.6 yrs

Hao Hu

TITLE
COMPENSATION
ZAR2M
AGE
56
TENURE
2 yrs

Arno Daehnke

TITLE
Group Financial Director & Executive Director
COMPENSATION
ZAR36M
AGE
50
TENURE
3.1 yrs

Lungisa Fuzile

TITLE
Chief Executive & Executive Director of SBSA
AGE
53
TENURE
1.4 yrs

Kgomotso Moroka

TITLE
Non-Executive Director
COMPENSATION
ZAR1M
AGE
64
TENURE
15.9 yrs

Myles John Ruck

TITLE
Independent Non-Executive Director
COMPENSATION
ZAR4M
AGE
62
TENURE
17.4 yrs

Peter Sullivan

TITLE
Lead Independent Non-Executive Director
COMPENSATION
ZAR3M
AGE
69
TENURE
1.6 yrs

Martin Oduor-Otieno

TITLE
Independent Non-Executive Director
COMPENSATION
ZAR2M
AGE
62
TENURE
3.4 yrs
Who owns this company?
Recent Insider Trading
  • Standard Bank Group individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
30. May 19 Sell Myles John Ruck Individual 29. May 19 29. May 19 -25,000 €11.69 €-292,342
28. May 19 Sell Thulani Gcabashe Individual 23. May 19 23. May 19 -10,000 €12.04 €-120,384
16. Apr 19 Sell Simpiwe Tshabalala Individual 12. Apr 19 12. Apr 19 -129,751 €12.31 €-1,591,816
04. Oct 18 Buy Arno Daehnke Individual 01. Oct 18 01. Oct 18 19,160 €10.66 €204,200
04. Oct 18 Sell Barend Kruger Individual 03. Oct 18 03. Oct 18 -29,463 €10.28 €-302,953
04. Oct 18 Buy Barend Kruger Individual 01. Oct 18 01. Oct 18 29,463 €10.66 €314,006
04. Oct 18 Buy Simpiwe Tshabalala Individual 01. Oct 18 01. Oct 18 33,040 €10.66 €352,129
X
Management checks
We assess Standard Bank Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Standard Bank Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

SKC2 News

Simply Wall St News

SKC2 Company Info

Description

Standard Bank Group Limited, together with its subsidiaries, offers financial products and services. The company’s personal banking products include accounts, credit cards, saving and investment, digital wallets, prepaid cards, Shariah banking, and foreign exchange services; home loans, personal loans, car financing, and student loans; and unit trust and annuities, financial planning, trading, wills, and estate and trust services, as well as car and home, income, debt, funeral, travel, legal asset, and life and accident insurance. Its business banking products comprise business accounts and cards, attorney accounts, and merchant and cash solutions; loans, overdrafts, revolving credit plans, vehicle and asset finance, debtor finance, and commercial property finance; savings and investment accounts, financial planning, payments, cash and fleet management, merchant, debit order, and other special services; pay and incentive cards; and business, corporate risks, agricultural, vehicles, commercial property, engineering risks, new contracts, cargo, cash, events and directors and officers liability insurance services. The company also provides trading and risk management solutions across financial markets, including foreign exchange, money markets, interest rates, equities, and credit and commodities; international trade finance, working capital, and investor service solutions; advisory and financing solutions, such as term lending, and structured and specialized products across the equity and debt capital markets for governments, parastatals, larger corporates, financial institutions, and multinational corporates. In addition, it offers wealth management products and services; and online, mobile, and telephone banking services. As of December 31, 2018, Standard Bank Group Limited had approximately 1,200 branches in the African continent. The company was founded in 1862 and is based in Johannesburg, South Africa.

Details
Name: Standard Bank Group Limited
SKC2
Exchange: DB
Founded: 1862
ZAR19,794,400,945
1,596,086,227
Website: http://www.standardbank.co.za
Address: Standard Bank Group Limited
Standard Bank Centre,
9th Floor,
Johannesburg,
Gauteng, 2001,
South Africa
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
JSE SBK Ordinary Shares The Johannesburg Securities Exchange ZA ZAR 02. Jan 1992
OTCPK SBGO.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB SKC2 Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
NMSE SNB Ordinary Shares Namibian Stock Exchange NA ZAR 02. Jan 1992
OTCPK SGBL.Y SPONSORED ADR Pink Sheets LLC US USD 16. Mar 2009
Number of employees
Current staff
Staff numbers
53,178
Standard Bank Group employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/26 20:31
End of day share price update: 2019/06/26 00:00
Last estimates confirmation: 2019/06/12
Last earnings filing: 2019/04/18
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.